Principal Financial Group Inc. Sells 5,658 Shares of Core & Main, Inc. (NYSE:CNM)

Principal Financial Group Inc. lowered its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 440,102 shares of the company's stock after selling 5,658 shares during the quarter. Principal Financial Group Inc. owned 0.22% of Core & Main worth $21,261,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its stake in Core & Main by 3.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock valued at $343,000 after buying an additional 229 shares during the period. Perpetual Ltd increased its stake in Core & Main by 12.4% in the 1st quarter. Perpetual Ltd now owns 223,671 shares of the company's stock valued at $10,806,000 after buying an additional 24,610 shares during the period. New York State Teachers Retirement System increased its stake in Core & Main by 53.7% in the 1st quarter. New York State Teachers Retirement System now owns 86,679 shares of the company's stock valued at $4,187,000 after buying an additional 30,286 shares during the period. Artemis Investment Management LLP increased its stake in Core & Main by 109.6% in the 1st quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company's stock valued at $86,568,000 after buying an additional 936,863 shares during the period. Finally, KBC Group NV increased its stake in Core & Main by 5.3% in the 1st quarter. KBC Group NV now owns 1,725,810 shares of the company's stock valued at $83,374,000 after buying an additional 86,672 shares during the period. Institutional investors and hedge funds own 94.19% of the company's stock.

Core & Main Stock Performance

NYSE:CNM traded down $0.70 during midday trading on Friday, reaching $61.57. The stock had a trading volume of 2,406,812 shares, compared to its average volume of 2,298,140. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $63.25. The firm's fifty day simple moving average is $56.75 and its 200-day simple moving average is $53.14. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.96 and a quick ratio of 1.10. The stock has a market capitalization of $12.14 billion, a P/E ratio of 28.64, a PEG ratio of 1.82 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last posted its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the business posted $0.49 EPS. Core & Main's revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Transactions at Core & Main

In other Core & Main news, insider Laura K. Schneider sold 45,695 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $56.25, for a total value of $2,570,343.75. Following the completion of the sale, the insider directly owned 12,873 shares of the company's stock, valued at $724,106.25. This represents a 78.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robyn L. Bradbury sold 25,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $60.49, for a total transaction of $1,512,250.00. Following the completion of the sale, the chief financial officer directly owned 8,555 shares of the company's stock, valued at approximately $517,491.95. This trade represents a 74.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 265,703 shares of company stock worth $15,931,870. 3.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CNM shares. Citigroup increased their price target on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Royal Bank Of Canada increased their price target on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $60.00.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.